Russia's central bank raised its key rate by a full one percentage points on Friday as inflation continued to stay well above the target.
The Board of Directors of Bank of Russia decided to lift the key interest rate to 9.50 percent from 8.50 percent. The decision came in line with expectations.
Signaling further rate hikes, the bank said "the bank holds open the prospect of further key rate increase at its upcoming meetings."
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.